Image of Paul Monsted
Isobel & Paul Monsted
Image of Paul Monsted
Paul Monsted
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Paul Monsted’s Trading Philosophy
Currency trading markets are fractal in nature. What this means is that the same pattern is repeated in different time frames. A pattern that can be seen in the 15 minute chart (which is the time frame Paul prefers) can also be seen in the 1 minute chart, the hourly chart, the four hour chart, the daily and up to the monthly chart. Humans trade patterns and a large part of the trading philosophy is based upon pattern recognition. Our software has comprehensive trade closing rules that adapt to changing trade conditions.
Expert Action’s software uses a number of key indicators to determine when to enter a trade.
According to Paul, currency trading has three main components.
1. Trade entry.
2. Trade adjustment whilst the trade is open.
3. Trade closing.
Having regard to the purpose of trading as stated by Paul
“The purpose of trading is to make a profit consistently and sustainably with as low risk as possible”
The most important in his view is trade closing.
An ancillary fundamental of his trading philosophy is that
“a trade should close as quickly as possible at the best likely profit.”